Centene Co. (NYSE:CNC) Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in Centene Co. (NYSE:CNC) by 31.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,378 shares of the company’s stock after acquiring an additional 7,465 shares during the quarter. NEOS Investment Management LLC’s holdings in Centene were worth $1,901,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Capital Advisors Ltd. LLC grew its holdings in Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after purchasing an additional 177 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Centene during the fourth quarter valued at about $30,000. OFI Invest Asset Management acquired a new position in shares of Centene in the fourth quarter worth about $33,000. SRS Capital Advisors Inc. boosted its holdings in Centene by 73.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after purchasing an additional 267 shares during the last quarter. Finally, Riverview Trust Co grew its stake in Centene by 172.7% during the 4th quarter. Riverview Trust Co now owns 758 shares of the company’s stock valued at $46,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CNC shares. Wells Fargo & Company decreased their price target on shares of Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Centene in a research report on Wednesday, December 11th. Stephens reduced their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Truist Financial cut their price objective on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Barclays lifted their target price on Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Centene has a consensus rating of “Moderate Buy” and a consensus price target of $79.92.

Centene Trading Down 0.5 %

Shares of NYSE:CNC opened at $59.96 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $59.94 and its 200 day moving average price is $62.79. The company has a market cap of $29.74 billion, a PE ratio of 9.61, a P/E/G ratio of 0.80 and a beta of 0.40. Centene Co. has a fifty-two week low of $55.03 and a fifty-two week high of $80.59.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.31. The business had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. Sell-side analysts anticipate that Centene Co. will post 6.86 earnings per share for the current year.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.